Nigeria and the United States have signed a new agreement aimed at “deepen[ing] American investment” in Nigeria’s mining sector, as both countries seek to expand cooperation in the development of critical mineral resources.
The framework agreement was signed in New York by Nigeria’s Minister of Solid Minerals Development, Dele Alake, and US Deputy Secretary of State Christopher Landau on the sidelines of the United Nations General Assembly. The deal focuses on attracting American investment into Nigeria’s estimated $700 billion mineral resources sector.
The partnership comes as the United States shifts its Africa strategy toward investment-led engagement, while seeking to strengthen supply chains for critical minerals used in advanced technologies and clean energy production.
Alake said the agreement would support efforts to move beyond the export of raw materials and encourage local value addition within Nigeria’s mining industry.
“Nigeria cannot remain a source of raw materials while others capture most of the value,” Alake said. “We want more local processing, quality jobs, stronger skills and greater opportunities for Nigerian businesses.”
Nigeria holds significant deposits of lithium, a key component in battery production, as well as gold, tin, iron ore, phosphate and gemstones. The growing global demand for critical minerals has attracted increasing foreign interest in the country’s mining sector.
According to the ministry, “The agreement is expected to use the Nigeria-US government relationship as a foundation for business-to-business transactions”, creating opportunities for investment, processing and industrial development across the value chain.
